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Westpac Secured Business Loan

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Westpac Business Loan
Upfront Fee
Subject to Negotiation
Loan Term
1 to 30 years


Secure your loan and get a variable rate starting from 7.91% p.a. Interest charges and fees apply.

Westpac’s Secured Business Loan comes with a loan term of up to 25-30 years, depending on the type of security offered. You can secure the loan with cash, or commercial or residential property. You can choose your type of interest, either variable or fixed or a combination of the two. The loan also offers flexible repayment options. The loan costs include interest charges and establishment and monthly fees.

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Product details

Product Name Westpac Business Loan
Min. Loan Amount $20,000
Max. Loan Amount No maximum amount
Loan Security Secured
Upfront Fee Subject to Negotiation
Loan Term 1 to 30 years

How does the Westpac Secured Business Loan work?

This secured business loan from Westpac allows you to borrow upwards of $20,000. You can secure it with cash, residential property, commercial property or business assets. You can choose to pay either fixed or variable interest rates, with the option to fix part of your loan and keep the other part variable. You can also make principal and interest repayments or interest only payments subject to credit criteria.

What features does the Westpac Secured Business Loan offer?

  • Long loan terms. The loan term for the secured business loan is from 1 to 30 years. The loan term will vary depending on the security offered. You can get a loan term up to 30 years with residential property, or 25 years for commercial or rural property.
  • Secured loan. You can secure the loan with a variety of assets, including residential or commercial property or business assets. Secured loans generally come with lower interest rates and higher borrowing amounts.
  • Choose between fixed or variable rates. You have the option to fix the rate for up to 5 years, which allows you to predict and easily budget for the repayments. You can choose a combination, allowing you to fix part of your loan and keep the other variable. With variable interest, your repayments may be harder to predict but you can make extra repayments and redraw these funds. You can also choose between interest only or principal and interest repayments.
  • Flexible repayments options. You can choose between principal and interest or interest only repayments, subject to credit criteria.
  • Flexible repayments terms. You can choose your repayment frequency and pay weekly, fortnightly, monthly, quarterly, half-yearly or annually.

How much does the Westpac Secured Business Loan cost?

There are several costs associated with the loan. These include:

  • Loan principal
  • Fixed or variable interest, with variable rates starting at 7.91% p.a.
  • A monthly fee of $15
  • Establishment fees (subject to negotiation)

Credit criteria, fees, charges, terms and conditions apply.

What are the pros and cons of the Westpac Secured Business Loan?


  • Long loan term. Loan terms range from 1 to 30 years, depending on the security offered.
  • Lower interest rates. Because the loan is secured, your variable rate will start from 7.91% p.a.
  • Different types of security. You can secure the loan with cash, residential or commercial property or business assets.
  • Flexible repayments. Choose the frequency of repayments that works best for your business. This can be weekly, fortnightly, monthly, quarterly or annually.
  • Combination of interest types. You can choose between variable and fixed or combined interest types.


  • Risk of repossession. Secured loans come with the risk of repossession if you default on the loan. You could lose your asset.
  • Takes longer to process. As the loan is secured and requires more documentation, it takes longer for the loan to be processed. This is in comparison to the unsecured option.

Am I eligible for the Westpac Secured Business Loan?

To be eligible for this loan, you will need to:

  • Be a customer of Westpac
  • Be aged 18 or over
  • Have traded for at least 12 months with a valid ABN or ACN. Your business must also be registered for GST
  • Have an annual turnover over $75,000
  • Be a tax resident of Australia, based, registered and operating in Australia
  • You must require the funding for business or investment purposes other than investment in residential property.
  • Have less than $1 million in business lending with Westpac
  • Have ATO payments, loan repayments and employee entitlements (including super) up to date

How do I apply for the Westpac Secured Business Loan?

You can apply for the loan online, through Westpac's website, over the phone or meet with a business banking specialist at a physical Westpac branch.

You may need to provide the following documents:

  • Identification documents, if you're new to the bank or if it doesn't have you on file already
  • Business registration documents
  • Financial statements; this includes annual financial statements or tax returns
  • Proof of individual income
  • Expenses

You may also be required to provide:

  • Business Activity Statements or cash flow statements
  • Cash flow forecasts, management accounts, working asset statements, etc.
  • Projected financial information

Have your documents at hand to speed up the process.

Comparison of other business loans

Whilst we don't directly compare Westpac Business Loan, compare other business loans offering similar features.

1 - 6 of 6
Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Lumi Unsecured Business Loan
3 months to 3 years
2.5% establishment fee
Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
Valiant Finance Business Loan Broker
3 months to 7 years
$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 80 lenders. Loans between $5,000 and $20 million are available. Request a call – your loan can be funded in 1 business day.
ebroker Business Loan
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
ScotPac Boost Business Loan
3 months to 3 years
$0 application fee
A business loan for any industry. Borrow between $10,000 and $500,000, with approved loans funded within 24 hours. Minimum monthly turnover of $10,000 and 1 year of trading history required.
Max Funding Unsecured Business Loan
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
Prospa Business Loan
3 months to 3 years
3.5% origination fee
Small business loans are available from $5,000 - $500,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $5,000 is necessary.

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